Priority Agreement. (a) (i) Any party to the Priority Agreement (other than a Finance Party) does not comply with the terms of the Priority Agreement in any respect which is materially prejudicial to the Lenders’ interests under the Finance Documents; or
Priority Agreement. The Bank’s Security will rank first in priority as a continuing security without limit. The Lender’s Security will rank second in priority as a continuing security without limit.
Priority Agreement. The Chargeholder, being the holder of the Bank Charges, by signing the Form C General Instrument attached hereto as Part I, in consideration of the payment of Ten Dollars ($10.00) and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged and agreed to by the Chargeholder) hereby consents to the granting of this Agreement including the Housing Agreement and Section 219 Covenant, and subject to section 9.20 above, hereby covenants that this Agreement shall bind the Chargeholder with respect to the Lands and shall rank in priority upon the Lands over the Bank Charges as if the Agreement had been registered prior to the Bank Charges and prior to the advance of any monies pursuant to the Bank Charges. The grant of priority is irrevocable, unqualified and without reservation or limitation.
Priority Agreement. The Owner must, at the expense of the Owner, do or cause to be done all actions reasonably necessary to grant priority to this agreement over all financial charges and encumbrances which may have been registered against the title to the Land save and except those specifically approved in writing by the Municipality or that are in favour of the Municipality.
Priority Agreement. 2.1 The Bank’s Priority is £ [and the Lender’s Priority is £ ] (or any other Priority amount as agreed in writing between the Bank and the Lender) and, in addition, interest on that amount and expenses as secured by the Bank’s or the Lender’s Security.
2.2 The Bank’s Security will rank first in priority as a continuing security up to the Bank’s Priority.
2.3 [The Lender’s Security will rank second in priority as a continuing security without limit.] [The Lender’s Security will rank second in priority as a continuing security up to the Lender’s Priority.]
2.4 [The Bank’s Security will rank third in priority as a continuing security without limit.]
2.5 [If either the Bank or the Lender holds an effective fixed charge and the other a floating charge over the same asset or class of assets then the fixed charge will rank in priority to the floating charge without limit.]
2.6 The Bank and the Lender will hold on trust any net receipts from the enforcement of their Security or from an administrator or liquidator of the Owner in respect of their Security to give effect to the priorities under this deed.
2.7 The priorities above will not be affected by:
2.7.1 any fluctuations in the amounts secured by the Security, or any advances being made after the date of this deed;
2.7.2 the existence at any time of a credit balance on any account; or
2.7.3 the crystallisation of the Bank’s or Lender’s floating charge before the other’s.
Priority Agreement. This Indenture is entered into with the benefit of, and subject to the terms of, the Priority Agreement and each Holder, by accepting a Note, shall be deemed to have agreed to, and accepted the terms and conditions of, the Priority Agreement. The rights and benefits of the Holders and the Trustee (on its own behalf and on behalf of the Holders) are subject to the terms of the Priority Agreement (including, without limitation, Clause 6 (Turnover) thereof). The Senior Creditors and the Hedging Banks (each as defined in the Priority Agreement), acting through their agents or trustees, are granted (or have as a matter of law) third party beneficiary rights in respect of this Section 12.06.
Priority Agreement. (The “Chargeholder”), being the holder of the * (the “Bank Charges”, by signing the Form C General Instrument attached hereto as Part I, in consideration of the payment of One Dollar ($1.00) and other good and valuable consideration (the receipt and
Priority Agreement. (i) Any Relevant Party does not comply with the terms of the Priority Agreement; or
(ii) a representation or warranty given by any Relevant Party in the Priority Agreement is incorrect in any material respect, and, if the non-compliance or circumstances giving rise to the misrepresentation or breach of warranty are capable of remedy, such non-compliance is or circumstances are not remedied within 21 days of the earlier of the Facility Agent giving notice to that Relevant Party of and that Relevant Party becoming aware of the non-compliance or misrepresentation or breach of warranty.
(b) The Priority Agreement is not effective in any material respect or is alleged by a Relevant Party to it to be ineffective.
(c) Any Relevant Party repudiates the Priority Agreement or evidences an intention to repudiate it.
(d) For the purpose of this Clause, Relevant Party means any member of the Group, KDHoldCo, any other Holding Company of KDG which has provided Shareholder Loans to KDG and any Investor which is, in each case, party to the Priority Agreement.
Priority Agreement. 6.1 This Agreement is entered into pursuant to the Framework Agreement.
6.2 If any of the provisions of this Agreement conflict with the provisions of the Framework Agreement, the provisions of the Framework Agreement shall take precedence.
Priority Agreement. 6.1 as the registered holder of charges by way of * and * against the Lands, which said charges are registered in the Land Title Office at Victoria, British Columbia, under numbers
